UPSC Exam > UPSC Questions > With reference to the Investor Education and ...
Start Learning for Free
With reference to the Investor Education and Protection Fund Authority, consider the following statements:
- It was established under the Companies Act, of 2013.
- It works under the Union Ministry of Finance.
- It has the responsibility of administration of the Investor Education Protection Fund.
How many of the statements given above are correct?
- a)Only one
- b)Only two
- c)All three
- d)None
Correct answer is option 'B'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
With reference to the Investor Education and Protection Fund Authority...
Statement 1: It was established under the Companies Act of 2013.
This statement is correct. The Investor Education and Protection Fund Authority (IEPFA) was indeed established under the Companies Act of 2013. The Companies Act, 2013 is a comprehensive legislation governing companies in India and it includes provisions for investor protection and education.
Statement 2: It works under the Union Ministry of Finance.
This statement is incorrect. The IEPFA does not work under the Union Ministry of Finance. It is an autonomous regulatory authority established by the Ministry of Corporate Affairs (MCA), which is a separate ministry from the Union Ministry of Finance. The MCA is responsible for the administration of the Companies Act and other related matters.
Statement 3: It has the responsibility of administration of the Investor Education Protection Fund.
This statement is correct. The IEPFA has the responsibility of administering the Investor Education Protection Fund (IEPF). The IEPF was created to receive and manage the unclaimed dividends, matured deposits, and other amounts transferred by companies to the fund. The IEPFA utilizes these funds for investor education and awareness programs, as well as for the protection of investors' interests.
Conclusion:
Out of the three statements given, only two statements are correct. The first statement is correct as the IEPFA was established under the Companies Act, 2013. The second statement is incorrect as the IEPFA does not work under the Union Ministry of Finance. The third statement is correct as the IEPFA has the responsibility of administering the Investor Education Protection Fund. Therefore, the correct answer is option 'B' - Only two statements are correct.
This statement is correct. The Investor Education and Protection Fund Authority (IEPFA) was indeed established under the Companies Act of 2013. The Companies Act, 2013 is a comprehensive legislation governing companies in India and it includes provisions for investor protection and education.
Statement 2: It works under the Union Ministry of Finance.
This statement is incorrect. The IEPFA does not work under the Union Ministry of Finance. It is an autonomous regulatory authority established by the Ministry of Corporate Affairs (MCA), which is a separate ministry from the Union Ministry of Finance. The MCA is responsible for the administration of the Companies Act and other related matters.
Statement 3: It has the responsibility of administration of the Investor Education Protection Fund.
This statement is correct. The IEPFA has the responsibility of administering the Investor Education Protection Fund (IEPF). The IEPF was created to receive and manage the unclaimed dividends, matured deposits, and other amounts transferred by companies to the fund. The IEPFA utilizes these funds for investor education and awareness programs, as well as for the protection of investors' interests.
Conclusion:
Out of the three statements given, only two statements are correct. The first statement is correct as the IEPFA was established under the Companies Act, 2013. The second statement is incorrect as the IEPFA does not work under the Union Ministry of Finance. The third statement is correct as the IEPFA has the responsibility of administering the Investor Education Protection Fund. Therefore, the correct answer is option 'B' - Only two statements are correct.
Free Test
FREE
| Start Free Test |
Community Answer
With reference to the Investor Education and Protection Fund Authority...
Recently, in a step towards financial literacy, Investor Education and Protection Fund Authority (IEPFA) launched two Investor Awareness Vans titled “Niveshak Sarathi as part of the Azadi ka Amrit Mahotsav celebrations.
- It was established in 2016 under the Companies Act, of 2013.
- The Authority is entrusted with
- The responsibility of administration of the Investor Education Protection Fund (IEPF).
- Make refunds of shares, unclaimed dividends, matured deposits/debentures etc. to investors and promote awareness among investors.
- Nodal Ministry: Ministry of Corporate Affairs
Hence only statements 1 and 3 are correct.
Attention UPSC Students!
To make sure you are not studying endlessly, EduRev has designed UPSC study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in UPSC.
|
Explore Courses for UPSC exam
|
|
Similar UPSC Doubts
Top Courses for UPSCView all
With reference to the Investor Education and Protection Fund Authority, consider the following statements: It was established underthe Companies Act, of 2013. It works under the Union Ministry of Finance. It has the responsibility of administration of the Investor Education Protection Fund.How many of the statements given above are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?
Question Description
With reference to the Investor Education and Protection Fund Authority, consider the following statements: It was established underthe Companies Act, of 2013. It works under the Union Ministry of Finance. It has the responsibility of administration of the Investor Education Protection Fund.How many of the statements given above are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Investor Education and Protection Fund Authority, consider the following statements: It was established underthe Companies Act, of 2013. It works under the Union Ministry of Finance. It has the responsibility of administration of the Investor Education Protection Fund.How many of the statements given above are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Investor Education and Protection Fund Authority, consider the following statements: It was established underthe Companies Act, of 2013. It works under the Union Ministry of Finance. It has the responsibility of administration of the Investor Education Protection Fund.How many of the statements given above are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?.
With reference to the Investor Education and Protection Fund Authority, consider the following statements: It was established underthe Companies Act, of 2013. It works under the Union Ministry of Finance. It has the responsibility of administration of the Investor Education Protection Fund.How many of the statements given above are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Investor Education and Protection Fund Authority, consider the following statements: It was established underthe Companies Act, of 2013. It works under the Union Ministry of Finance. It has the responsibility of administration of the Investor Education Protection Fund.How many of the statements given above are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Investor Education and Protection Fund Authority, consider the following statements: It was established underthe Companies Act, of 2013. It works under the Union Ministry of Finance. It has the responsibility of administration of the Investor Education Protection Fund.How many of the statements given above are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?.
Solutions for With reference to the Investor Education and Protection Fund Authority, consider the following statements: It was established underthe Companies Act, of 2013. It works under the Union Ministry of Finance. It has the responsibility of administration of the Investor Education Protection Fund.How many of the statements given above are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of With reference to the Investor Education and Protection Fund Authority, consider the following statements: It was established underthe Companies Act, of 2013. It works under the Union Ministry of Finance. It has the responsibility of administration of the Investor Education Protection Fund.How many of the statements given above are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
With reference to the Investor Education and Protection Fund Authority, consider the following statements: It was established underthe Companies Act, of 2013. It works under the Union Ministry of Finance. It has the responsibility of administration of the Investor Education Protection Fund.How many of the statements given above are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for With reference to the Investor Education and Protection Fund Authority, consider the following statements: It was established underthe Companies Act, of 2013. It works under the Union Ministry of Finance. It has the responsibility of administration of the Investor Education Protection Fund.How many of the statements given above are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of With reference to the Investor Education and Protection Fund Authority, consider the following statements: It was established underthe Companies Act, of 2013. It works under the Union Ministry of Finance. It has the responsibility of administration of the Investor Education Protection Fund.How many of the statements given above are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice With reference to the Investor Education and Protection Fund Authority, consider the following statements: It was established underthe Companies Act, of 2013. It works under the Union Ministry of Finance. It has the responsibility of administration of the Investor Education Protection Fund.How many of the statements given above are correct?a)Only oneb)Only twoc)All threed)NoneCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice UPSC tests.
|
|
Explore Courses for UPSC exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup